Traction Battery Market 2022 Growth Drivers, Regional Outlook, Competitive Strategies and Forecast up to 2027
Stratview Research delivers key insights on the global Traction Battery Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Traction Battery Market:
• Dnata
• Saudi Airlines Catering
• Gate Gourmet
• LSG Group
• Servair
• Journey Group PLC
• Newrest Catering
• SATS Ltd
• DO & CO.
Growth drivers and Market Value:
This report, from Stratview Research, studies Traction battery market value and growth drivers over the trend period of 2022-27. According to the report -
Traction battery market is likely to witness an impressive CAGR of 9.7% during the forecast period. The prime factor contributing to the demand for traction batteries is the increasing adoption of electric vehicles, especially in the industrial and transportation sectors.
Segment Analysis:
Based on by Chemistry Type:
Based on the chemistry type, the market is segmented as lead acid, Li-ion, nickel-based, and others. The lead acid segment is estimated to maintain its dominance over the forecast period, owing to its robustness and economic pricing.
Based on Regional:
In terms of regions, North America is estimated to be the largest market for traction batteries. The North American market is expected to grow with a lucrative CAGR during the forecast period. The growth of the market can be attributed to favorable government policies with regard to purchase incentives coupled with mandating energy efficiency and carbon emission protocols.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Traction Battery Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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